British Airways, American Airlines and Iberia have received the regulatory green light to operate a joint business on transatlantic flights. Following European Union approval on July 14, the airlines have now been granted anti-trust immunity from the US Department of Transportation.

British Airways chief executive, Willie Walsh, said: “This final approval is fantastic news for all three airlines and the oneworld alliance. We’ve waited 14 years to bring the benefits of the transatlantic joint business to our customers and level the playing field with the other two global alliances.  As we have argued all along, the EU-US market is highly competitive and Heathrow’s liberalisation in 2008 opened it up even further. We are delighted that the US and EU authorities have recognised this.